The India
Portable Generator market is anticipated to grow at a robust CAGR during the forecast
period. A number of factors, such as the expanding demand for energy, the
unstable grid infrastructure, the need for solutions for emergency backup
power, and the necessity for a steady supply of electricity, are propelling the
market for portable generators. Also, the mountainous region's usual power
supply is disrupted by extreme weather events, and heavy rain, heat waves,
storms, cyclones, and fog in other parts of the country, necessitating the
usage of backup power sources. Due to their features, such as long run time
and a good fuel capacity, the market for portable generators has risen.
Electricity
is produced by portable generators for use in industrial, home, and commercial
settings. The applications include generating energy for live commercial
events, supplementary power supply, energising equipment at building sites
during a power outage, and a number of others. The portable generator, on the
other hand, was developed as a backup tool to provide momentary AC power for
standalone applications. These generators are assembled as a single unit from a
starter, internal combustion engine, fuel tank, alternator, and outlets on a
metal frame. Due to their ease of portability and affordability, portable
generators are now the most popular choice among customers.
The portable
generator provides power momentarily in circumstances when access to
electricity is not possible. A portable generator is a type of electrical
generator that typically burns gasoline or diesel and calculates power in hours
as opposed to days. Portable generators generate energy by the use of a
gas-powered engine that turns an internal alternator. These generators are
often used to provide temporary, portable electric power at construction sites
and outdoor pleasure areas.
The two main
product types for portable generators are conventional and inverter generators.
The amount of power required to perform a task determines the speed of an
inverter portable generator; the more power required, the quicker the engine
runs, improving fuel economy. Also, some of these generators have the fixed
speed set points, which helps to lessen the frequency with which loads
fluctuate as smaller loads come on and off. Portable generators, which are
utilized by customers in the residential, commercial, and industrial sectors,
are powered by diesel, gas, and other fuels.
Government
Initiatives Boost the Market for Portable Generators
The
government's initiatives to support the creation and maintenance of robust
energy infrastructure are predicted to boost demand for power production
systems, which would, in turn, rise the demand for portable generators in the
upcoming years. India is predicted to invest USD840 billion on urban
infrastructure over the next 15 years, according to a new World Bank analysis
released in November 2022. This is due to the country's rapidly expanding urban
population. According to the Ministry of New and Renewable Energy, the Union
government of India launched the "National Program on High-Efficiency
Solar PV Modules" Production Linked Incentive Scheme in April 2021 with a
budget of USD540 million to aid and promote the production of high-efficiency solar
PV modules.
Additionally,
the Union Government has increased capital expenditure on infrastructure
investment by 33%, or USD 130 billion for 2023–2024, which is 3.3% of GDP. It
is anticipated that this increase significantly expands the infrastructure
market and increases demand for generators on construction sites to provide
a steady supply of electricity.
As a
consequence of increased demand from several sectors, such as mining, oil and
gas, and pharmaceuticals, the market for portable generators is predicted to
grow throughout the course of the projected period. Generators are used as
supplemental power sources in a variety of industrial activities. Generators
are the only source of power where there is no grid infrastructure. For
instance, because the majority of mining sites are located in remote places,
generators are required to supply them with the daily electricity they require.
For instance, the mining sector in India is anticipated to register a CAGR of
4.63% and reach USD126 billion in 2022. The union government has also launched several
initiatives, with a focus on the infrastructure industry in both urban and
rural regions, including Homes for All, Pradhan Mantri Awes Yojana, Made in
India, and Pradhan Mantri Gati Shakti Master Plan, among others.
In December
2021, India's Ministry of Road Transport and Highways (MoRTH) announced
investments in infrastructure projects totalling USD92.4 billion. It is
anticipated that the sector will grow as a result of the government's goal to
significantly increase the supply of affordable housing units for low- and
middle-income cohorts under the "Housing for Everyone" programme by
2022.
The
"Pradhan Mantri Gati Shakti Master Plan" is expected to provide
finance for the construction industry, which is anticipated to grow by 6.2% a year
between 2023 and 2026. The National Infrastructure Pipeline (NIP), which would
cost USD1.5 trillion between FY 2020 and FY 2025, also boosts the production of
the sector (April 2019 to March 2025).
The
government launched the National Monetization Pipeline (NMP) in August 2021 to
raise additional money for infrastructure projects. The idea focuses on getting
financing from the private sector and using the revenues to build new
infrastructure projects by leasing out state-owned infrastructure facilities
between FY2021–20 and FY2024–25. With an anticipated USD552 million investment,
the government hopes to complete 23 new highway and motorway projects by
FY2024–25, which would aid in boosting growth throughout the predicted period.
Additionally,
as part of the SagarMala project, the government also plans to invest USD82
billion in port infrastructure and modernization projects between 2015 and 2035
therefore, to provide continuous electricity on the construction site, the
market for portable generator is expected to rise. Therefore, the above-mentioned factors reflect
the rising market growth with the largest market share of portable generators
across the country during 2024-2028F.
Growth in Demand for Natural Fuel Sources
With the development of strict environmental
regulations to control the emission of hazardous gases from diesel generators
in developed regions, for instance, in India, the union government has released
a notification stating that " Specifically in metro areas
and cities with a population of 1.00.000 people or more, pollution levels have
been growing. According to the distribution licensee, all consumers must
get a continuous 24x7 supply of electricity. so that the diesel generator is
not needed to be functioning. That is why natural gas-powered generators are
becoming more and more common.
Rise in Awareness
Portable generators are becoming more and more
well-liked among end users, including homeowners, event organizers, outside
service providers, and others. The market for portable generators is rising as
more people find themselves in need of energy backup during blackouts,
convenient power storage for camping, and prolonged outdoor activities in
remote regions. Several significant market participants advertise commercial
events with their broad product categories.
Recent Developments/ Recent Investments:
The recent government investments in the infrastructure sector have led to increased demand for portable generators in the market in the upcoming years. For instance, under "National Infrastructure Pipeline," India government planned to invest around USD 1.4 trillion in infrastructure over the next five years. A little over 13% of the USD 81.72 billion in total FDI inflows in FY21 came from operations tied to infrastructure.
Indian government decided to construct 43,000 dwellings each day by the end of 2022 to achieve the objective of providing housing for everyone by that time. As of August 22, 2022, 122.69 lakh residences under the Pradhan Mantri Awas Yojana (PMAY-Urban) plan had been approved, 103.01 lakh had been built, and 62.21 lakh had been completed. Therefore, to enhance the speed of infrastructure projects and complete the projects on time, portable generators are installed on the construction site. Thus, the market for portable generator is expected to boost in the upcoming years.
The National Highways Authority of India received USD 17.24 billion from the government of India to enhance the road infrastructure across the country. This led to enhancing the demand for portable generator by providing a continuous supply of electricity on the construction site.
The market for a portable generator is expected to boost in the forecast period owing to governments allocating billions of amount to the various ministries to enhance the construction sector for instance, the Ministry of Housing and Urban Affairs gets USD 9.85 billion from the union government to construct a house for the urban & rural population. Additionally, the government granted USD10.87 billion to the Department of Telecommunications to build and improve the nation's telecom infrastructure.
Oct. 28, 2021 - Generac Power Systems, Inc., one of the leading global designers and producers of energy technology solutions and other power products, revealed the Guardian 26kW Home Standby Generator, the most powerful air-cooled home standby generator presently on the market. The Guardian 26kW generator, which has a peak power output of 26 kilowatts and thousands of dollars in cost savings over rival home backup generators, is available for purchase and installation.
June 01, 2021 - Generac Holdings Inc, one of the world's leading designers and producers of energy technology solutions and other power products, has acquired Deep-Sea Electronics Ltd, a well-known international designer and manufacturer of complex controls.
Jan 18, 2022 - A brand-new EU32i portable generator from Honda has just gone on sale with a recently created specialized engine (maximum output: 3.2kVA). High-efficiency 4-stroke engine with integrated fuel injection is the highlight of Honda's EU32i portable generator. A maximum of 10% ethanol in standard unleaded gasoline is required for the engines to function.